When you receive an insurance payout, the insurance company normally makes the check payable to you and any lien holder that has a claim on your property. If the insurance company made the check payable to you or the lien holder, then you can cash it by yourself. You can also cash the check if the insurance made it payable to you and another individual, but only if that individual authorizes you to do so. If the insurance company made it payable to you and a business entity, then you cannot cash it.
Instructions
1. Go to the bank holding the account the insurance company wrote the check against. If the insurance company made the check payable to you and another person, then ask that individual to go with you.
2. Turn the check over and sign your name on the top line of the endorsement area. Write your name exactly as it appears on the front of the check, including your middle initial, if applicable. You might need to spell out your first name if the insurance company printed your name as such on the front of the check. If necessary, have the other check payee to sign his name on the second endorsement line.
3. Hand the check to the teller. Give the teller a form of government-issued ID such as your driver''s license or passport; if applicable, the other check payee must do so as well. The teller may ask you to provide a thumbprint signature and to pay a check cashing fee.
4. Count the check proceeds before you leave the bank. If necessary, split the proceeds with the lien holder.
Tags: insurance company, check payable, company made, insurance company made, lien holder
